The bid project cost is Rs 4,167.70 crore with completion period of 48 months and maintenance period of 10 years
The Rs 1,900 crore road project, which will include a four-lane bridge over the Ganga river, will connect Sahibganj bypass in Jharkhand to Manihari bypass in Bihar
All that happened in the markets today
Highways builder Dilip Buildcon on Friday said it has won an Rs 882-crore project in Gujarat from the National Highways Authority of India (NHAI). The project will be executed in the hybrid annuity mode (HAM). "Dilip Buildcon Limited has been declared as L-1 (lowest) bidder for a new HAM project viz. four-laning of the Dhrol-Bhadra-Patiya section and the Bhadra-Patiya-Pipalia section of NH151 in Gujarat," the company said in a regulatory filing to the BSE. The company said the bid cost of the project is Rs 882 crore. It said the project will be developed on the public-private partnership basis.
Shares of the company were trading at Rs 248.20 a piece on BSE in the morning trade
The project entails the development of Bundelkhand Expressway (package-VI) from Bakhariya to Kudrail in Uttar Pradesh.
The project which is 45.28 km in length is to be completed in three years, the filing said.
Earlier, on October 30, the company informed the exchanges that NHAI has fixed October 24 as the appointment date for its wholly-owned subsidiary for construction of a highway under Bharatmala
The move is expected to strengthen its balance sheet and improve new project visibility
On a year-to-date (YTD) basis, shares of Dilip Buildcon have slipped 8 per cent while the benchmark S&P BSE Sensex has gained over 2.50 per cent.
The stock slipped 14% to Rs 901 on the BSE in intra-day trade after the company reported 11% YoY growth in its consolidated net profit at Rs 2.18 billion in March 2018 quarter.
The company had said last month it has bagged two projects worth Rs 44.73 billion to be constructed under hybrid annuity mode
Shakti Pumps (India) has moved higher by 8% to Rs 703, surging 26% in past one week on the BSE.
The stock surged 12% to Rs 1,122, also its new high on the BSE, in intra-day trade.
In Maharashtra, the task is four-laning of three road sections of National Highway 166, the company added
The stock has outperformed the market by gaining 27% in past one month as compared to 1% decline in the S&P BSE Sensex.
The construction period for the 50.8 km project is 30 months
Total 25 stocks from BSE 500 index hit record highs on BSE in otherwise weak market.
The company reported a net profit at Rs 196 crore in Q4 against Rs 60 crore in a year ago quarter
Shares of Dilip Buildcon were trading 4.79 per cent higher at Rs 433.35 on BSE